Category: 3-EconSometimeCommentary

A watercolor of a harbor? A black-and-white photo of a pile of rocks? Some hotels are trying to do better. Zachary Crockett unpacks.

 

• SOURCES:
  • Melanie Kettring, director of studio design at Best Western Hotels.
  • Jessica Poundstone, visual artist. 
  • Gavi Wolf, founder and C.E.O. of Indiewalls.

 

• RESOURCES:
  • Indiewalls.
  • Best Western.

 

• EXTRAS:
  • "Used Hotel Soaps," by The Economics of Everyday Things (2023).
  • "The Hidden Side of the Art Market," series by Freakonomics Radio (2021).

You know Watergate, but do you know Fedgate? The more subtle scandal with more monetary policy and, arguably, much higher stakes.

In today's episode, we listen back through the Nixon White House tapes to search for evidence of an alarming chapter in American economic history: When the President of the United States seemingly flouted the norms of Fed Independence in order to pressure the Chair of the Federal Reserve Board into decisions that were economically bad in the long run but good for Nixon's upcoming election.

The tale of Nixon and his Fed Chair, Arthur Burns, has become the cautionary tale about why Fed Independence matters. That choice may have started a decade of catastrophic inflation. And Burns' story is now being invoked as President-elect Trump has explicitly said he'd like more control over the Federal Reserve.

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The ZIP code is less like a cold, clinical, ordered list of numbers, and more like a weird overgrown number garden. It started as a way to organize mail after WWII, but now it pops up all over our daily lives. You type it into the machine at the gas station to verify your credit card. You might type it into a rental search website if you're looking for a new apartment. Back in 2013, the ZIP Code contributed about 10 billion dollars a year to the US economy.

On today's show, we turn our attention towards the humble ZIP code. Why was it born? How has it changed the mail? How has it changed the broader world? And... has it gone too far?

This episode was hosted by Sally Helm. It was produced by Sam Yellowhorse Kesler with help from Willa Rubin. It was edited by Meg Cramer, and fact-checked by Sierra Juarez. It was engineered by Valentina Rodríguez Sánchez. Alex Goldmark is Planet Money's executive producer.

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Mikayla Novak chats with Giandomenica Becchio on her latest book, The Doctrine of the Separate Spheres in Political Economy and Economics: Gender Equality and Classical Liberalism (Palgrave Macmillan, 2024). Together they discuss Becchio’s background and inspiration, the separated roles of men and women in the public and private spheres, and key thinkers in classical liberalism that studied feminist economics.

Giandomenica Becchio is Professor of History of Economic Thought, Methodology of Economics, and the Theory of Entrepreneurship in the Department of Economic and Social Sciences, Statistics and Mathematics, ISOMAS, at the University of Torino, Italy.

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Virtual Sentiments, our other podcast series from the Hayek Program is streaming! Subscribe today and listen to seasons one and two, and keep an eye out for season three coming soon!

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Before beef ends up at your favorite steakhouse, it passes through the hands of a trained specialist with an encyclopedic knowledge of bovine anatomy. Zachary Crockett chews the fat.

 

• SOURCES:
  • Bryan Flannery, co-owner of Flannery Beef.
  • Katie Flannery, co-owner of Flannery Beef.

 

• RESOURCES:
  • "National Weekly Boxed Beef Cutout And Boxed Beef Cuts — Negotiated Sales," U.S.D.A. Agricultural Marketing Service (U.S.D.A. Livestock, Poultry and Grain Market News, 2025).
  • "Understanding Beef Carcass Yields and Losses During Processing," (Penn State Extension Articles, 2022).
  • "Beef Cow-Calf Production," by Cheryl A. Fairbairn, Lynn F. Kime, Jayson K. Harper, and John W. Comerford (Penn State Extension Articles, 2020).
  • "Major Supermarket Chains Changed How They Label Meat, Surprising Customers and USDA," by Roberto A. Ferdman (The Washington Post, 2014).
  • "What’s Your Beef — Prime, Choice or Select?" by Larry Meadows (U.S.D.A Blog, 2013).
  • "From Calf to Kitchen: The Journey of a Beef Cow," by Dave Eames and Mike McGraw (The Kansas City Star, 2012).

 

• EXTRAS:
  • "The Future of Meat," by Freakonomics Radio (2019).

Ever since free trade opened up between the US and Mexico in the 1990s, trillions of dollars of goods have been going back and forth between the two countries, from cars to strawberries to MRI machines to underwear. But one major exception has been fresh American potatoes.

Today on the show, we tell the trade saga of the American potato. For more than 25 years, there was a place that American potatoes could not go to freely. A place that the entire American potato industry was desperate to access. A vast, untapped market: Mexico.

But standing in their way – the Mexican potato lobby and a trade loophole.

This episode was hosted by Erika Beras and Jeff Guo. It was produced by Willa Rubin and edited by Meg Cramer. It was fact-checked by Sierra Juarez. Engineering by Cena Loffredo. Alex Goldmark is Planet Money's executive producer.

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If you believe the hype, translators will all soon be out of work. Luis von Ahn, CEO and co-founder of the language learning app Duolingo, doesn't think AI is quite there... yet. In this interview, Greg Rosalsky talks with Luis about AI and how it's reshaping translation jobs and the language learning industry. We also ask him about headlines earlier this year suggesting Duolingo laid off some of its workers and replaced them with AI.

This is one of Greg's Behind The Newsletter conversations where he shares his interviews with policy makers, business leaders, and economists who appear in The Planet Money Newsletter.

This episode was first released as a bonus episode for Planet Money+ listeners earlier this year. We're sharing it today for all listeners. To hear more episodes like this one and support NPR in the process, sign up for Planet Money+ at plus.npr.org. We'll have a fresh bonus episode out in two weeks!

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https://www.npr.org/planetmoneynewsletter

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How did a little green nut become a billion-dollar product, lauded by celebrities in Super Bowl ads? Zachary Crockett cracks open the story.

 

• SOURCES:
  • Sawyer Clark, director of asset management at Gold Leaf Farming.
  • Diana Salsa, vice president of marketing for Wonderful Pistachios.

 

• RESOURCES:
  • "Almond Acreage Decline Prompts Industry Introspection," by Mitch Lies (West Coast Nut, 2023).
  • American Pistachio Industry 2021 Annual Report, by American Pistachio Growers (2023).
  • "California’s Agricultural Water Policies Are Nuts," by Douglas R. Noble (The Gainesville Sun, 2021).
  • "Amid Drought, Billionaires Control a Critical California Water Bank," by Chloe Sorvino (Forbes, 2021).
  • "Wonderful Pistachios Achieves Billion-Dollar Brand Milestone," press release by The Wonderful Company (2020).
  • "Pistachios: The Quirks of Agricultural Trade in a Nutshell," by Andrea Durkin (Global Trade, 2020).
  • "California Pistachios With Perfect Timing," by Mark Blackburn (The New York Times, 1979).

After the gift exchange comes another great holiday tradition: returns season. Once again, we are joining the fun in our own Planet Money way. We are returning to stories from years past to see what's changed since we last reported them. It's an episode we call The Rest of the Story.

We have updates on zombie mortgages, student loan forgiveness, Argentina's economy under its self-described anarcho-capitalist president, and the best place in the world to give birth to twins. Plus, a return to... returns.

So while you're looking for that holiday sweater in a better size, or waiting in line to trade in your Dutch oven for an air fryer, take a listen to all our latest little audio gifts. And see you in 2025!

This episode was hosted by Alexi Horowitz-Ghazi. It was produced by Sam Yellowhorse Kesler, and edited by Keith Romer and Jess Jiang. It was fact-checked by Sierra Juarez and engineered by Cena Loffredo. Alex Goldmark is Planet Money's executive producer.

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On this episode of the Hayek Program Podcast, Peter Boettke gives the opening keynote lecture at the 2022 Markets & Society conference. In this lecture, Boettke speaks on the importance of “relations before transactions”, emphasizes the impact of social interactions on economic activity and the role of trust, norms, and institutions, and highlights the insights of Adam Smith, F.A. Hayek, and Elinor Ostrom. Boettke explores the intersections between markets and society, opening the conference with a discussion of its theme.

Peter Boettke is a Distinguished University Professor of Economics and Philosophy at George Mason University and Director of the F.A. Hayek Program for Advanced Study in Philosophy, Politics and Economics at the Mercatus Center at George Mason University. He has published numerous books including Money and the Rule of Law: Generality and Predictability in Monetary Institutions (2021), Living Economics: Yesterday, Today, and Tomorrow (2012), and Challenging Institutional Analysis and Development: The Bloomington School (2009).

This lecture has been published in the Markets & Society Journal, Volume 1 Issue 1, as "Toward a Theory of Social Cooperation under the Division of Labor." Learn more about the Markets & Society conference and journal here.

If you like the show, please subscribe, leave a 5-star review, and tell others about the show! We're available on Apple Podcasts, Spotify, Amazon Music, and wherever you get your podcasts.

Virtual Sentiments, our new podcast series from the Hayek Program is streaming! Subscribe today and listen to seasons one and two.

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